(Carson City, NV) – State Attorney General Catherine Cortez Masto says Nevada residents who lost their homes to foreclosure in 2009 or 2010 have until Dec. 31 to submit an application for possible compensation under the federal Independent Foreclosure Review program.

The date was pushed back from Sept. 30.

Masto says that if the home loan was serviced by one of 14 large mortgage servicers, the borrower may qualify for lump-sum payments of up to $125,000 plus equity.

Other borrowers might qualify suspension or rescission of a foreclosure, loan modifications, or correction of credit reports.

The free program is handled by the federal Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve.